Overstock’s Shares Reacted Positively

Overstock’s Shares Reacted Positively

Following the announcement, shares of Overstock rose to 4.83% on Friday, recovering almost all its losses suffered on Thursday due to a broad sell-off on Wall Street. OSTK is currently pricing at $13.90 in the NASDAQ listing.

Looking at the bigger picture for the stock, it seems highly correlated to Bitcoin or Ethereum prices as OSTK rallied 260% in 2017, to decline around 78% in 2018. The share of Overstock also hit its all-time high in January 2018 at 89.80.

As reported previously in Cryptimi, Ohio became the first state accepting Bitcoin for tax bills back in November 2017, when State Treasurer Josh Mandel announced Ohio would implement OhioCrypto.com website as the website that will manage all the processes to allow businesses to pay with BTC as soon as November.

As the press release said at that time, Ohio became the first government in the world to accept cryptocurrency, “From mom and pop coffee shops to Fortune 100 companies, and businesses now have the ability to pay their taxes with OhioCrypto.com.”

It is actually happening.

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